1250 Riverbed
1250 Riverbed Street, Cleveland OH 44113
Acquisition Date: 9/30/2014
47,000 square feet
Project Highlights
We acquired this property on the brink of condemnation and as a court approved bankruptcy sale. Needless to say, the property was in rough shape when we started our work. The entire building was illegally occupied, there was a three floor extension on the verge of collapse, and the local utility company nearly cut off all energy due to major health and safety violations. Despite these hurdles, PHRC and two private investors purchased this property and began the turnaround process. Within 12 months the violations and utility issues were a thing of the past.
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